Regional and international interest in the Thai economy is picking up as the economic fundamentals improve and the government approves a $75bn transport-led infrastructure plan up to 2020.
The Thai insurance regulator—the OIC—has recently introduced a set of measures to liberalise the local insurance market, which could spark international investment in the sector and also make it easier for international companies to find cover for their local risks.
As drone technology improves at breakneck speed, so do the potential commercial use cases for so-called unmanned aerial vehicles. Can the nascent insurance market in this area keep pace?
Insurance brokers clearly have a core role to play in the exciting development of the Malaysian and wider ASEAN economy and need to extend their services to broader risk consulting and analysis. But the brokers also need to address significant challenges, not least conflicts of interest, according to the Malaysian regulator.
During her detailed talk at the business continuity and resilience event late last year, Puan Jessica Chew Cheng Lian, assistant governor of Bank Negara Malaysia, explained why business continuity is such a critical part of the overall risk management function and why the Malaysian authorities are taking it so seriously.
Fundamental reforms of the Malaysian insurance sector driven by its central bank, the Bank Negara Malaysia, will help the insurance industry better respond to the fast-changing demands of corporate risk managers, according to the national regulator.
Risk managers the world over are in search of risk transfer and financing solutions to their increasingly global, complex and intangible risks but the traditional insurance market is struggling to deliver at the speed demanded. The arrival of billions of dollars of fresh capital into the ILS and cat bond reinsurance markets surely offers potential solutions for the primary corporate market as demand meets supply? Adrian Ladbury finds that the evidence is mounting that this may well be the case and we are about to witness the rise of a potentially big new market.
The latest European Commission (EC) analysis of dangerous non-food products recalled and withdrawn from market in Europe finds that toys and clothing top the list for 2015 and that China is the biggest source of the problem.
Singapore-based international insurers and reinsurers such as Beazley and XL Catlin continue to announce ambitious expansion plans for the Asia-Pacific region, which is obviously good news for the local insurance market and risk managers throughout the region.
Indian corporations and insurers can expect Lloyd’s to make a more aggressive pitch for their insurance business in future as the London-based market earlier this month announced its intention to apply for a reinsurance branch based in Mumbai, and the appointment of Shankar Garigiparthy as country manager for India.